USD/JPY. The price will make a final surge upwards. | 08 January 2025
08 January 2025, USD/JPY
The Japanese yen has not been able to change the situation in its favor. At the same time, the dollar rate is gradually approaching the previously established maximum. There remains a possibility that buyers will not be able to update this extreme. All the price movements since mid-July last year may be one big correction.
Perhaps this is a double three. In this model, waves Y have been formed and now wave X is developing, taking the form of a simple zigzag. To complete it, the price will attempt to grow and finish forming wave 5.
After that, it will be necessary to observe how the price behaves further, and if there is a start of a decline, enter into sell trades.
For now, you can consider the option for buying with the goal of capturing the move in wave 5.
Investment idea: buy 158.10, stop loss 157.80, take profit 160.00.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
